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FDIC Chair Gruenberg Apologizes for Agency Culture, Commits to Fixes

U.S. Federal Deposit Insurance Corporation Chairman Martin Gruenberg on Wednesday said he was deeply sorry for a toxic workplace culture and his own mistreatment of employees. Testifying before Congress, Gruenberg said he accepted the findings of an independent report that …

Markets/Coverages: CFC Partners With Online Quoting Platform Tarmika

Specialty insurer CFC said it will be offering its admitted cyber insurance solution on Tarmika, an online quoting platform for independent agents. CFC enables agents to instantly quote and bind cyber insurance directly on the Tarmika platform, making it even …

Baltimore Bridge Collapse Occurred After Ship Lost Power Multiple Times

The container ship that rammed into Baltimore’s Francis Scott Key Bridge in March lost power multiple times on both the day of the fatal accident and the day before, according to a preliminary report. The Dali, which sails under the …

Boat Found in Key Biscayne Incident That Killed 15-Year-Old Skiier

MIAMI (AP) — Investigators located a boat believed to have fatally struck a 15-year-old girl off a south Florida beach and fled without stopping, while friends and family members mourned her loss. A funeral service for Ella Adler was held …

Four in Florida Charged with Faking Auto Accident Injuries to Gain PIP Payouts

Florida authorities this week charged four people with falsifying injuries from an auto accident and attempting to defraud three insurance companies out of personal injury protection payments. Maria Campos, Isabella Mendez, Madison Martinez, and Krystal Arbona were charged with insurance …

Ardonagh Specialty Rebrands Reinsurance Business as ‘Price Forbes Re’

Ardonagh Specialty announced it is naming its reinsurance business Price Forbes Re. The renaming of Inver Re in London and Bermuda and Equinox Re in the US follows the simplification of Ardonagh Specialty’s multiple brands in 2023, with Price Forbes …

Before Global Scrutiny, Indian Spice Maker MDH Faced Many US Rejections

Popular Indian spice brand MDH, under scrutiny for alleged contamination in some products, has since 2021 seen an average 14.5% of its US shipments rejected due to the presence of bacteria, a Reuters analysis of US regulatory data found. Hong …

EU Finalizes Investment Fund Labels to Combat Greenwashing

The European Union’s securities watchdog confirmed on Tuesday final guidelines on when investment funds can label themselves as being “sustainable” without being accused of greenwashing. Trillions of dollars globally have flowed into investments that promote their green attractions, but regulators …

Markets/Coverages: Coalition Enters Excess Cyber Insurance Market in Australia

Coalition, the San Francisco-based cyber managing general agent and cyber-security firm, announced it entered the excess cyber insurance market in Australia, enabling businesses to add a layer of risk management to their cyber towers. Australian brokers can now sell coverage …

Update: Wildfire Threat to Oil-Sands Capital Expected to Ease as Winds Shift

The threat of a wildfire bearing down on the unofficial capital of Canada’s oil-sands industry is expected to lessen as temperatures cool and winds shift, though the prospect of rains dousing the flames entirely remains remote. The blaze near Fort …

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